Nigeria’s Currency Plunges as Dollar Liquidity Dries Up: Will a Naira-for-Crude Oil Swap Revive It?

Quick Summary:

The Nigerian naira recently hit a new low against the U.S.dollar, ranking among the three worst-performing currencies globally.

Dollar Liquidity Dries up The Nigerian naira, which has already lost over 70% of its value in 2024, recently dropped to a record low of NGN1,670.65 per U.S.

Nigeria's Currency Plunges as Dollar Liquidity Dries Up: Will a Naira-for-Crude Oil Swap Revive It?

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Article Details

Author / Journalist: Terence Zimwara

Category: Crypto

Markets: JapanNigerNigeria

Topics: Africa US Dollar Foreign exchange

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 09:04:29 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: news.bitcoin.com

Language: English

Article Length: 16 words

Reading Time: 1 minutes read

Sentences: 1 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoin News

News ID: 23347178

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Official Website: news.bitcoin.com

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News Last Updated: 9 hours ago

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